Intelligence valley settles in CCEDZ
A tripartite agreement is signed on Oct 28 to invest 12 billion yuan ($1.81 billion) in an intelligent manufacturing industrial park to be located in the Chongchuan Economic Development Zone in Nantong, Jiangsu province. [Photo/WeChat account: ntjjkfq]
A tripartite agreement was signed on Oct 28 to invest 12 billion yuan ($1.81 billion) in an intelligent manufacturing industrial park to be located in the Chongchuan Economic Development Zone (CCEDZ) in Nantong, Jiangsu province.
The CEC Eastern Intelligence Valley is a cooperation project between the CCEDZ administration committee, China Electronics Optics Valley Union Holding Co Ltd (CEC Optics Valley), and Caihong Group Co Ltd.
The three parties will build a first-class domestic and internationally renowned intelligent manufacturing industrial park. The overall planned land area is about 67 hectares. The first phase of the project will cover about 16 hectares with investment of 2.5 billion yuan.
According to Huang Weifeng, chief of Chongchuan district, as Nantong's main urban area the district had a GDP of more than 140 billion yuan in 2019.
Caihong Group plays a domestic leading role in the development of new displays and new energy. CEC Optics Valley, a subsidiary of China Electronics Corporation (CEC), is renowned for its pioneering industrial park operation model that features industrial clustering, intelligent services and an investment network. Huang pledged that the government will provide the most considerate services and precise policies to help the project to become a demonstration example for other parks of its kind.
Si Yuncong, chairman of Caihong Group, said that the enterprise has strong expertise in the development of high-end electronic functional materials. The cooperation with China Electronics Optics Valley Union will bring their advantageous industries to Nantong, helping to promote the city's high-quality development.
The two enterprises' previously cooperated in establishing the CEC Western Intelligence Valley in Xianyang, Shaanxi province, three years ago.
The signing of this investment agreement marks a new stage in CCEDZ's development of new generation information technology, high-end equipment manufacturing and other strategic emerging industries.
